Suze Orman is a prominent American financial advisor, author, and television personality heard by millions of Americans on her TV program The Suze Orman Show on CNBC. Orman stresses that every individual needs a Living Revocable Trust to protect their assets and ensure their wishes are carried out.
Orman frames the act of planning your own funeral not as a morbid task, but as a final gift to your family. She emphasizes that making your wishes known relieves your loved ones of immense pressure.
"The greatest gift you can give your family is to plan your own funeral," Orman states. "You don’t want your family to be in a position where they are grieving and have to make decisions. They will always overspend. Always1."
It's Orman's view that emotional overspending is a near-certainty when arrangements are left to a grieving family.
Suze Orman and Legacy of Love are in alignment regarding why you should plan your funeral in advance.
"Your loved ones will need to pay for the funeral right away," Orman declares. "They can't wait for an estate to be settled2. Given the rising cost of funerals and cremations, you might want to consider prepaying for these services today1." Orman is a strong advocate for creating a Living Revocable Trust enabling family members quick, unhindered access to estate funds to pay for funeral expenses.
"Please don’t think that just because people will inherit money from you, that they will have the cash at hand to cover your last wishes," Orman cautions. "Funeral costs have to be paid in the first few days after someone dies, and inheritances can take weeks to process."
If you haven't established a Living Revocable Trust, or if there simply aren't readily available funds to help a family pay upfront for funeral costs, Legacy of Love offers affordable options to pre-fund anticipated funeral expenses.
You start by making Suze Orman happy: Plan Your Funeral.
"The greatest gift you can give your family is to plan your own funeral."
Complete your Legacy of Love funeral plan from the comfort of your home (no funeral home visit required). During the process, you can comparison shop funeral options—full burial service, direct cremation, etc.—from your local funeral providers. After projected costs are identified, you're given the option of pre-funding the cost of the services with a pre-need insurance policy or a burial insurance policy.
Unlike the high premiums a term life insurance policy might incur if you're over 50 or if you have pre-existing health conditions, pre-need insurance and burial insurance are for smaller policy amounts. With average funeral costs estimated between $5,000 and $9,000, both types of policies can solve the problem Orman describes of loved ones needing to pay the sums right away.
Policy payments can be stretched out up to 10 years if needed to keep policy premiums low. With Legacy of Love policies, you name a family member as the policy beneficiary, not a specific funeral home. This way, if you move or if the funeral provider goes out of business, your plan is portable. Pre-need insurance plans also have built-in inflation protection. There is no medical exam required, just a few questions, so policy approvals are quick—maybe even same day. These policies typically also pay out within 48 hours of a loved one's death.
Nationally known financial advisor Suze Orman urges her audience to funeral plan, calling it a final gift to your family that relieves your loved ones of immense pressure and helps them avoid emotional overspending. Her optimal advice on how to pay for the funeral is to have a Living Revocable Trust in place, but, unlike Dave Ramsey, she is open to the idea of using insurance as another means of covering funeral expenses. Legacy of Love offers the alternative of pre-funding your funeral plans with portable, flexible pre-need insurance or burial insurance to affordably address the issue of not having a trust or sufficient savings to pay out-of-pocket for a funeral or cremation.
Millions of listeners and viewers trust Suze Orman and her no-nonesense guidance on financial matters. Are you ready to follow Suze's advice and pre-plan your funeral? You can get started now from the comfort of your own home and, if needed, have one of our dedicated counselors answer questions or collaborate as much or as little as you wish. Call us now at 833-888-0355 or Start Here »
